Wednesday 26th March-Get me the Griswolds.The Euro Vacation may be back on again!!

Aussie dollar at 91.61 dust off those overseas holiday brochures. Uncle Glenn to speak at a HK conference this afternoon. Good luck!!!

Zombieland rallied hard last night as Super Mario intimated that they would do more to stimulate the economy as it looks rubbish! Negative interest rates on the agenda again. German business confidence took a hammering on the Russian /Ukrainian crisis. So answer is print more money. Obvious.

Is it just me or hasn’t Sir Tony in waiting got bigger issues than making a few people knights and dames…Malcolm must be loving that one!!

Weirdly the SPI closed down..not sure what drugs they are on but ignore them..expect a small rally today especially in the miners..Iron Ore was firm and Gold didn’t fall anymore so that should be ok…banks of course will be happy now they look like they can get their tellers to flog advice…makes it all worthwhile being a qualified stockbroker.

So where to for our market..I still believe in caution..we are milling about at these levels as is the Dow looking for an excuse for the next leg up or down.. economic indicators are just that indicators..wishy washy things like Consumer confidence are noise designed to get people to trade more..the real focus has to be on the company earnings from those fuzzy indicators..that is what is going to drive prices higher especially given that Yellen not screaming is pulling the rug from under the market,albeit slowly so she hopes no one notices..but they will…so at the end of the day tread carefully my friends…we are in eth bad news means stimulus world again and good is just good..everyone is getting long again so what could go wrong…use strength to lighten positions…have some cash ready for the Sell in May game again this year…most of the markets gains are made in the first two months and the last two..and its nearly April…

Idea of the Day

Things to make me go mmmmm!!

Man City beat United 3-0..fantastic.Goodbye Moyes!

GEM has raised $100M to pay for Sterling Early education…crikey these guys have raised a motza recently! Appetite is strong.. feel like they are getting a bit ahead of themselves though…

Remember that zoo in Copenhagen that killed the giraffe and then chopped it up in front of the kiddies…well now they have killed four lions to make way for one new one…it’s not a bloody Nissan run out sale for God’s sake!!Apparently the lions would have been killed by the new one anyway so they were just doing them a favour..not sure the four lions saw it that way…much better to do a Gladiator job and go down fighting! “Some of you are thinking that you won’t fight. Others, that you can’t fight. They all say that, until they’re out there”. Of course in Denmark they just kill them in front of the crowd anyway!

Good to see that inflation is dead..it is no more..it’s not pining for any fjords…UK number came in last night at 1.7%…trouble is that the inflation has been exported to asset prices not commodities as zero interest rates have forced people to buy assets and ten they can’t afford to eat or live and the debt mounts up…only got to look at London house prices to see that there are a few issues appearing.

DEFLATION IS COMING!!!!Roughly speaking, inflation since June has been running at a rate of minus 1pc in France since, minus 2pc in Holland, Belgium, and Slovenia, minus 4pc in Italy, Spain, and Portugal, minus 6pc in Greece, and minus 10pc in Cyprus. Sweden and Switzerland are also in deflation. No wonder QE is on the cards in Zombieland..

Sundance SDL has secured a critical supply deal with global commodities trader Noble for its planned $US4.7 billion ($5.1bn) central African iron ore project. The offtake deal, under which Noble would buy all of the planned mine’s annual production of 35 million tonnes for 10 years, is expected to assist in Sundance’s debt funding plans for the project, reports The Australian.

Yanzhou Coal continued to plummet yesterday as the group’s cornered minority shareholders headed for the exit. Yancoal shares plunged another 12.5c to 45.5c yesterday, continuing a slide that started on Monday when Yanzhou quietly walked away from its plans for an outright takeover of the company.

Boral’s CEO ‘ Sir’ Mike Kane has called members of one of Australia’s biggest unions “cowards and bullies” in the building industry’s most outspoken attack so far on union thuggery

A February study by Ernst & Young LLP warned London’s property market is beginning to display “bubble-like conditions,” with the average house set to cost almost 600,000 pounds ($996,000) by 2018, three-and-a-half times a dwelling in the northeast. The City of London, the financial hub, created 34 percent more jobs during the three months ended in February than it did in the same period a year earlier, calculates headhunting firm Astbury Marsden.

Prices in the UK capital climbed 2.1 percent this month to a record 552,530 pounds, taking the annual appreciation to more than 11 percent.

US Consumer confidence rose to 82.3 in March from a reading of 78.3 in February, the highest level since January 2008.Hope springs eternal!

In the Netherlands, President Obama calmly explained to the open-mouthed press conference that he continues to be “more concerned about a nuclear weapon going off in Manhattan that Russia.”

Facebook Inc. said it will buy virtual-reality technology company Oculus VR Inc. for about $2 billion, in its first push into mobile hardware. The deal includes $400 million in cash and 23.1 million Facebook shares, as well as an additional $300 million if the acquisition achieves certain milestones.

The Chicago Board Options Exchange Volatility Index (VIX), a gauge for U.S. stock volatility also known as VIX, fell 7.1 percent to 14.02 today.

The Nasdaq Biotech index is down 4% from earlier opening highs and is once again testing the 100-day-moving-average that provided some impetus for a modest bounce yesterday. This is a 10-week low level (-14% from Feb highs) and has retraced over 60% of the gains since the Fed announced the taper in December. Volume has been very heavy.

And finally…….a couple of non PC jokes…lucky Sir George Brandis is changing the laws!

I came out of the shop with a meat and potato pie, large chips, mushy peas & a jumbo sausage.

A poor homeless man sat there and said, I’ve not eaten for two days.
I told him, I wish I had your will power!

A man and his wife were awakened at 3:00 am by a loud pounding on the door.

The man gets up and goes to the door where a drunken stranger, standing in the pouring rain, is asking for a push.

“Not a chance,” says the husband, “it is 3:00 in the morning!”

He slams the door and returns to bed.

“Who was that?” asked his wife..

“Just some drunk guy asking for a push,” he answers.

“Did you help him?” she asks.

“No, I did not, it’s 3am in the morning and it’s bloody pouring rain out there!”

“Well, you have a short memory,” says his wife. “Can’t you remember about three months ago when we broke down, and those two guys helped us?

I think you should help him, and you should be ashamed of yourself!

“God loves drunk people too you know.”

The man does as he is told, gets dressed, and goes out into the pounding rain.

He calls out into the dark, “Hello, are you still there?”

“Yes,” comes back the answer.

“Do you still need a push?” calls out the husband.

“Yes, please!” comes the reply from the dark.

“Where are you?” asks the husband.

“Over here on the swing,” replied the drunk..

Have a great Wednesday

Clarence

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